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What are fixed rate mortgages?


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Fixed rate mortgages are suitable if you want to pay a set amount each month and do not want your monthly payment to fluctuate. This type of mortgage can be helpful in making budgeting more straightforward. Your interest rate remains the same for a set period of time and the amount you pay for your mortgage each month will remain the same regardless of any changes in the Bank of England base rate or the standard variable rate of Ipswich Building Society. If you want to leave a fixed rate mortgage deal before the end of the set term, you may be charged an early repayment fee.

Please refer to individual product pages for more information on our specialist fixed rate mortgages.

Residential Standard

2.45% 2 Year Fixed Rate 80% LTV

About
Fees
Apply
  • FIXED RATE of 2.45% until 31/01/2024 then reverting to 3.50% (Ipswich SVR minus 1.74%) until 30/04/2027
  • 4.2% APRC
  • Available for purchase and remortgage only up to 80% LTV

15288, 72380

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£999 £199 Purchase: Based on property valuation Remortgage: FREE - £35 £750k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 31/01/2024
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 3% of the original loan amount

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

 

2.85% 5 Year Fixed Rate 80% LTV

About
Fees
Apply
  • FIXED RATE of 2.85% up until 5 years from date of completion then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.3% APRC
  • For purchase and remortgage only up to 80% LTV

15289, 72381

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£999 £199 For purchase: based on property valuation. Remortgage: FREE - £35 £750k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 5 years from date of completion
Overpayment of 50% or above - Early repayment charge is 5% of the overpayment
Redemption - Early repayment charge is 5% of the original loan amount

For remortgage only - fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

 

 

 

2.80% 2 Year Fixed Rate 90% LTV

About
Fees
Apply

 

  • FIXED RATE of 2.80% up until 31/01/2024 then reverting to 3.50% (Ipswich SVR minus 1.74%) until 30/04/2027 then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.3% APRC
  • For purchase or remortgage

Applicants who have taken a payment deferral on their existing mortgage or have been furloughed since 1st January 2021 are not eligible. Any applicants furloughed prior to this date must have now returned to work full time.

15291, 72383

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£999 £199 Purchase: Based on property valuation Remortgage: FREE £35 £500k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 31/01/2024
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 3% of the original loan amount

Remortgage only: fee assisted legals

 

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

2.90% 3 Year Fixed Rate 90% LTV

About
Fees
Apply

 

  • FIXED RATE of 2.90% until 31/01/2025 then reverting to 3.50% (Ipswich SVR minus 1.74%) until 30/04/2027 then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.3% APRC
  • For purchase or remortgage

Applicants who have taken a payment deferral on their existing mortgage or have been furloughed since 1st January 2021 are not eligible. Any applicants furloughed prior to this date must have now returned to work full time.

15292, 72384

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£999 £199 Purchase: Based on property valuation Remortgage: FREE £35 £500k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 31/01/2025
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 3% of the original loan amount

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

3.09% 5 Year Fixed Rate 90% LTV

About
Fees
Apply

 

  • FIXED RATE of 3.09% up until 5 years from date of completion then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.4% APRC
  • For purchase or remortgage

Applicants who have taken a payment deferral on their existing mortgage or have been furloughed since 1st January 2021 are not eligible. Any applicants furloughed prior to this date must have now returned to work full time.

15293, 72385

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£999 £199 £35 £500K

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 5 years from completion
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 5% of the original loan amount

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

 

Interest Only

2.99% 2 Year Fixed Rate 80% LTV Interest Only

About
Fees
Apply
  • FIXED RATE of 2.99% until 31/01/2024 then reverting to 3.50% (Ipswich SVR minus 1.74%) until 30/04/2027 then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.7% APRC
  • For purchase or remortgage

15294, 72386

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£999 £199 Purchase: Based on property valuation Remortgage: FREE £35 £750k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 31/01/2024
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 3% of the original loan amount

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

3.25% 5 Year Fixed Rate 80% LTV Interest Only

About
Fees
Apply

 

  • FIXED RATE of 3.25% until 5 years from completion date, then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.7% APRC
  • For purchase or remortgage

15297, 72389

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£999 £199 Purchase: Based on property valuation Remortgage: FREE £35 £750k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 5 years from completion date
Overpayment of 50% or above - Early repayment charge is 5% of the overpayment
Redemption - Early repayment charge is 5% of the original loan amount

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

 

 


Representative example

FIXED EXAMPLE: A mortgage of £228,600.00 payable over 20 years initially on a fi xed rate until 31/01/2024 at 2.45%, then on our Standard Variable Rate currently at 5.24% with a discount of 1.74%, giving a pay rate of 3.50% until 30/04/2027 (please note that the rate payable will never fall below 3%). This will be followed by our Standard Variable Rate currently at 5.24% for the remainder of the mortgage term. This would require 27 monthly payments of £1,211.25, followed by 39 monthly payments of £1,319.11, followed by 174 monthly payments of £1,476.93. The total amount payable would be £341,628.86 made up of the loan amount plus interest (£111,500.86), an application fee of £199, a completion fee of £999, a valuation fee of £200, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 4.2% APRC representative.

Interest only example

FIXED EXAMPLE: An interest only mortgage of £228,600.00 payable over 20 years initially on an interest only basis with a fi xed rate until 31/01/2024 at 2.99%, then on our Standard Variable
Rate currently at 5.24% with a discount of 1.74%, giving a pay rate of 3.50% until 30/04/2027 (please note that the rate payable will never fall below 3%). This will be followed by our Standard
Variable Rate currently at 5.24% for the remainder of the mortgage term. This would require 27 monthly payments of £572.17, followed by 39 monthly payments of £669.80, followed by 174
monthly payments of £1002.56. The total amount payable would be £446,144.23 made up of the loan amount plus interest (£216,016.23), an application fee of £199, a completion fee of £999,
a valuation fee of £200, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. The overall cost for comparison is 4.7% APRC representative.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Your home may be repossessed if you do not keep up repayments on your mortgage.